The district cooling market is projected to grow from USD 30.5 billion in 2023 to USD 53.7 billion by 2032, exhibiting a CAGR of 7.30% during the forecast period.
District cooling (DC) is a centralized system for the distribution of cooling energy. It is majorly utilized for space cooling in apartments, offices, houses, and other areas. Chilled water is distributed via insulated pipes to cool the indoor environment of buildings in an area.
The district cooling market had been experiencing steady growth due to increasing urbanization, energy efficiency concerns, and the adoption of sustainable practices in building design and operation.
A sophisticated, energy-efficient way to cool a network of buildings in cities or on college campuses is through district cooling. Huge, high-efficiency industrial-grade machinery is housed in central cooling facilities, where it produces chilled water that is then sent to client buildings by way of a network of insulated underground pipes.
To reduce the load on the electric grid brought on by the increased demand for air conditioning, district cooling is an essential component of the energy infrastructure in cities all over the world. Workplaces, shopping centers, homes, and other buildings that need interior cooling are supplied with chilled water through district cooling.
Key Players
· Veolia (France)
· Danfoss (Denmark)
· Emirates District Cooling, LLC (EMICOOL) (UAE)
· Shinryo Corporation (Japan)
· Alfa Laval AB (Sweden)
· ADC Energy Systems LLC (UAE)
· Daikin Industries Ltd. (Japan)National Central Cooling Company PJSC (TABREED) (UAE)
· SNC-Lavalin (Canada)
· Keppel Corporation Limited (Singapore)
· Emirates Central Cooling System Corporation (EMPOWER) (UAE)
· Qatar District Cooling Company (QATAR COOL)
· Stellar Energy (USA)
· Engie (France)
· Vattenfall (Sweden)
Regional Analysis
The largest market for district cooling is anticipated to be in the Middle East and Africa. District cooling systems have a lot of promise in the Middle East. The constant heat throughout the year combined with expensive glass exteriors for hotels, airports, offices, etc. causes exceptionally high inside temperatures.
The region's high need for refrigeration may be permanently addressed by combining waste heat use with distributed power generation. District cooling systems are advantageous for commercial buildings, lodging facilities, apartment buildings, shopping centers, and other structures.
Market Segmentation
The Global Centralized Cooling Systems market Size has been segmented into Production Technique, Operations, and End User
Based on the Production Technique, the market has been segmented into Cooling, Absorption Chillers, and Electric Chillers.
Based on the Operations, the market has been segmented into Storage, Distribution, and Production.
Based on the End User, the market has been segmented into Residential, Commercial, and Industrial.
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